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Al Jazeera America
Dec 4, 2013 11:30am EST
>>> the u.s. economy is growing but so is the income gap between the rich and the pour. we are waiting for president obama to talk about changing that and other aspects of the economy. that is the woman that will be introducing him. and we'll have him in just a few moments. mike viqueira joins us for now with more on what to expect from the president. good morning. >> stephanie. good morning. as usual when it comes to politics and policy in washington, it is complicated. the president is trying to put forward his agenda for the state of the union speech and for the last three years of his presidency. he is going to take the populous tack that we have seen before, and tie the affordable care act into all of it. he is going to be talking about minimum wage, and disparities in in income every growing in this country, and hearken back to past speeches he has made talking about making income distribution more quillable. and he had a lot of shoring up to do. this is a left-lanes think tank, the president going to the pourest region in terms of income in this city, ward 8, and he
MSNBC
Dec 9, 2013 6:00am PST
memorial service for nelson mandela in south africa. we are starting with the economy. there have been solid job numbers and major revision for the gd approximate, and a strong end to the week on wall street. it has a bunch of experts predictioning that a steadily improving economy is on the horizon for the coming year. what would that mean politically? health care and obstruction are the clubs are choice for the two parties. they are beating each other up over both issues and both could be problems as well. the economy is the wild card right now. right now things are looking up. on friday we got word that they push the average jobs growth to 189,000 a month. not great, but not horrible. it's an improvement over 2012. unemployment is down to 7% down 18/10 of a point from this time last year and the lowest since november of 2008. we saw a big revision that was up 3.6% in the third quarter. that's a half percentage point better than 2012. there is a caveat. a good portion came from businesses building up inventory. they may end up stocking up so much, they don't need to buy as much. ther
CSPAN
Dec 5, 2013 3:00pm EST
, which is the backbone of our economy. earlier, a representative from kentucky talked about how it is the right thing to do to improve the health of thousands of his citizens over the next decade. he also talked about it from an economic and fiscal standpoint. 50 million dollars will be injected into kentucky's economy. it will bring $800 million to the state treasury, create 17,000 jobs and support their glad toso we were very hear what he had to say at the press event and afterward. in few areas has a lot been of greater impact than in the lives americans with chronic conditions. if you had insurance that you liked before, whatever it was, it is going to be better now because of no pre-existing conditions being a barrier to your access to insurance. also removing lifetime or even on the funding you can receive for care. thanks to affordable health care act in relationship to pre- existing conditions, up to 17 million children with pre- existing conditions have already been able to gain affordable coverage. starting january 1, up to 129 million americans, including children, in
Al Jazeera America
Dec 4, 2013 11:00am EST
the economy. >>> a top hezbollah leader is killed. the lebanese group says he was assassinated. ♪ >>> the u.s. economy is growing but so is the income gap between the rich and the poor. president obama will talk about how to change that and other aspects of the economy when he speaks at a washington think tank in just a few minutes. mike viqueira joins us from washington. mike, good morning, what are some of the main points the president is expected to address? >> reporter: you are right, the president turning a page now after the last two months healthcare.gov debacle. he is going to talk about the grows gap between rich and poor. it's not a new story or a new subject for president obama. he talked ariel castro it two years ago in a benchmark speech in kansas. and he spoke a little bit about in this year's state of the union. the top 1% in this country have seen their income triple over the course of the last 28 years, meanwhile the middle class has scene their income grow at a modest 1% on average over the course of that same time annually. so the president will be talking about that. he'
PBS
Dec 6, 2013 6:30pm PST
for the economy is finally good news for wall street. stocks rose sharply because of a super strong jobs report. american businesses added 2,300 jobs in november, much more than expected, and the nation's unemployment rate fell to 7% even, that's a five-year low. the rally was broad base with all ten sectors of the s&p 500 index on the plus side. today's gains come after five straight losing sessions on fears that a stronger economy would be the cat list for the federal reserve to cut back on the stimulus plan. now it looks like investors and traders believe a growing economy is good news. so here is a look at today's closing numbers. the dow shot up almost 200 points back above the 16,000 level. the nasdaq jumped about 30 and s&p rose 20 points returning to the 1800 mark again. >>> so where are all those jobs, and what do the gains mean for the economy? hampton pearson takes a look. >> just in time for the holidays, tanger outlets opened this 100 million dollar complex with 80 high-end retailers outside washington d.c. in light of today's surprisingly strong jobs report, opening a new outlet m
Bloomberg
Dec 5, 2013 7:00pm EST
of people but he is also very hardheaded about things like the economy. when he got into office, they had been really sapped by sanctions for all these years and could have gone either way. look at zimbabwe next door. interesting because you mentioned the sanctions risk. there was a divide in this country about the sanctions. reagan was slow to act and there was a lot of pressure or members of the congressional black caucus and other circles as they have been noting tonight, lots of concerts in support of mr. mandela, lots of concerts in support of those who said that we should not have any dealings with south africa as long as apartheid was still in place. >> the people for sanctions were on the right side of history because it really did weaken the regime and probably brought them to the bargaining table much quicker. >> in your article, you noted south africa's economic and clinical aspects were intertwined. how so? how did he help to narrow that defined? had growth rates under 1% during the entire apartheid regime. from the time he was a like did until 2008 they were clipping along. t
FOX Business
Dec 6, 2013 9:00pm EST
we are in the middle because you what the economy to improve but not want to the fed to stop totally but yet you want to show it is getting better because sees earnings have to grow so the goldilocks scenario is the underlying growth would pick up and yet pick up later but then not have a crash when e rates go higher. dennis: you say the stocks go down with good news because we are scared they will tie ended? but today they went up triple digits is there such an attitude to where i think the economy will go okay? >> fortunately a part of that is the investors are confident coming back to the stock market. it will go up even just people thinking it is up. >> what did you think of the report today? >> solid but not spectacular. to reduce thousand jobs is a good bumper but every other indicator was positive. most importantly we saw improvement of the for sandage other americans in the workforce. i was happy with this report but we should not be celebratory i remember in the '80s and '90s we had five budgets thousand jobs in one month but it there is no such styles as to get the jobs cre
Al Jazeera America
Dec 3, 2013 5:00pm EST
of low-wage americans and their times and the economy as a whole? the debate surrounding raising the minimum wage is the inside story. >> hello, i'm ray suarez. the wheels of the american economy turned with the labor of low wage workers across this country. the dishwashers, retail sales people and healthcare providers who toil at the federal minimum wage haven't seen a pay raise in four years and efforts in congress to find one have stagnated. cities, states, and counties are taking it on themselves to bring their workers to income levels closer to the fiscal realities of these tough times. and it's no easy task. as much debate surrounds the effectiveness of image wage hikes and who really benefits. do these wage controls cost jobs? we'll discuss the issue on this addition of "inside story." but first this background. >> they deserve to live a good life in one of the richest cities in the world. >> reporter: close to 100 people rallied outside washington, d.c. city council chamber as council members inside voted to raise the city's minimum wage to $11.50 an hour. >> congress' fa
CSPAN
Dec 5, 2013 12:00am EST
objection, the subcommittee is adjourned. president obama on jobs and the economy and income inequality. in less than hour, the head of of mayor confederation teachers speaks with reporters at the christian science monitor. walden,esentative greg on to make haitians and technology. communications and technology. >> a several live events to tell you about tomorrow morning. treasury secretary jack lew will be at the future will trust to discuss the state of financial reform. also on c-span2, members of the house and energy commerce subcommittee on energy and power will hear from energy regulatory commissioners. span330 eastern a.m. on c- we cover a hearing on unemployment benefits that are set to expire at the end of the month. >> from age eight, betty ford, then betty [inaudible] put on skits and plays and that led to eddington, vermont where she studied at the school of dance. these are some of her notecards. no bookstworks -- where she kept cards. she carried this with her to vermont, back to grand rapids, off to new york where she studied with martha graham and work with the powers m
PBS
Dec 5, 2013 6:30pm PST
.com/nbr. >>> growing stronger, the u.s. economy grows at its fastest pace since early 2012, but is the 3.6% rate as strong as it appears? and why do american businesses still seem so hesitant? >> protests over pay. fast food workers strike in the biggest push yet for higher wages. they want $15 an hour. they average around $9 now. what a big raise would mean for businesses and consumers. >> and the sticker shock, why washington lawmakers could be the reason you pay more, lots more for milk. we have all that and more tonight on "nightly business report" for thursday, december 5th. >>> good evening everyone. stocks kept sliding today, the losses though modest marked the fifth day in a row of declines for the dow and s&p 500, the longest streak since september and the government shutdown. the indexes are less than 2% from the all-time highs. today's declines were driven by rekindled concerns the federal reserve may reduce the $85 billion a month in bond purr chases and might do it as soon as this month because economic news out today pointed to a strengthening of u.s. growth. the come he domestic p
Al Jazeera America
Dec 7, 2013 5:00pm EST
to additional jobs as more successful economy for everyone. by the way, we can look back in history and see in 1968, for example, the minimum wage in real dollar terms or in fixed dollars terms would be $9.44 now. and the unemployment is less than half of what it is today. the notion that minimum wage destroys jobs is disproved. and when you think about it, the common sense that says people at the lower end of the income spectrum are going to spend the money that they make, that will create jobs and will be good for everyone. >> low wage workers as customers. that's where i want to come back. we'll take a short break with our guests and we'll be back. this is inside story. >> fault lines investigates... fracking >> shale gas development could actually double the economic growth rates in the province. >> this is our land for thousands of years... >> do you drink money? you must have a lot of money to drink... >> as tensions rise, and protests turn violent, where will the debate lead? >> the situation was no longer peaceful or safe... >> they were bashing my head with their boots... they had
MSNBC
Dec 4, 2013 8:00am PST
, is the economy. high unemployment, growing disparity in wealth and income in this country. >> vermont senator bernie sanders, great to have you on this morning. thanks for your time. >> thank you. >> absolutely. >>> after the president's speech on the economy this morning, he's going t stop by this afternoon's white house youth summit. the goal is to engage the so-called young invincibles, ages 18 to 35, that the white house is banking on to make obama care a success. joining me is dr. coreyhebert and elizabeth plank, executive social editor at policy mike. it's great to have you both here. elizabeth, in just a few hours policy mike is launching this week-long competition at today's youth summit. tell us about the competition and how you're hoping to engage the conversation about insurance. >> sure. we're really excited to be launching this competition today at the white house. we're going to be inviting millennials from across the country to give their ideas, their proposals and project ideas about how we can make health care work better for our generation. we think that -- we're really exci
CSPAN
Dec 5, 2013 9:00pm EST
. more than anything else, they want a job. but finding work remains very difficult in an economy that still has one point 5 million fewer jobs than before the recession started six years ago. we have never had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice as high as it was at the expiration of every previous extended ui benefit program. the extraordinary circumstances continue. the report also sets out the economic impact of a failure to act. it agrees with cbo and other economists. allowing the federal ui program to expire will cost our economy at least 200,000 jobs next year because of reduced consumer demand. for this congress to ignore the national
Al Jazeera America
Dec 7, 2013 2:00am EST
front. more companies are hiring and the economy shows signs of a rebound. >> hello, welcome to al jazeera america. i'm morgan radford, live in new york city. >> an american war veteran detained in north korea is on his way back to the united states. merrill newman departed beijing airport about 15 minutes ago, headed for his home in san francisco. he'd been held in north korea since late october. officials said they released newman on humanitarian grounds and for apologising for crimes committed during the korean war. he spoke to reporters before leaving beijing. >> i'm glad to be coming home. >> melissa chan has more. >> great news that merrill newman has been freed. you can well imagine how distraught his family has been. he's missed thanksgiving, but will be home in time for the holidays. we hear that merrill newman was part of a special unit called the white tigers. military intelligence stole secrets - we didn't know about the group until the 1990s. so from the north korean perspective they consider merrill newman, even though he's advanced in age, a serious enemy. from the n
PBS
Dec 6, 2013 7:30pm PST
. in washington, the week's other been on the economy, good news on the jobs front today, a healthcare website that and theinally working struggles that continue away capital.nation's starting with the jobs report, are we seeing the long-awaited recovery everyone is talking about or what, david? >> i think the economy is moving in the right direction, moving slowly but in the right direction. we've had two months with over 200,000 jobs added, the unemployment rate is as low as it's been in the last five years month wasring this across the economy -- manufacturing, construction, it's aate and local so good sign but it's important to remember there's still a lot of people out of work. than one third of the unemployed have been out of work for six months or more and hard time getting hired. gwen: that's one piece of today's news. week's newsof this is about the healthcare act. at the white house today, they are linking the good economic with the finally good news about the healthcare act. is there a connection between rebound in the economy and the healthcare act? >> the link is that this law all
SFGTV2
Dec 2, 2013 2:30pm PST
the economy as a whole. this is the van ignore of the industrial reluctance we want to be at the head of it. we talk about portland. portland actually doubled exports in - >> in san francisco we don't think of that (laughter). >> i'm sure how san francisco would respond to that we're weirder but portland is betting on a because they were so smart at the metropolitan scale a tear down the freeway in the 70s they've attracted a lot of firms t 3 sell services. their brand is we build green cities. they're saying to the latin medical examiner cities you can break out and we can help you plan and supply those products. we innovative in the economy while export those services and products good jobs and a very different model. you know, i think we need to get beyond labels. the most of come out of washington, d.c. they're mostly ideological about what the economy is. we're mapped it, it's productive and cities will get about the business of developing fuels >> i want to follow up on cars you note in 1983 half of the americans have driver's license and only 29 percent today perhaps more cities
CNN
Dec 7, 2013 6:30am PST
christiane amanpour and candy crowley. all at the same table. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs since 2005. the jobless rate lowest in five years. stock market may have taken a breather, but it is a banner year for stocks. 25% of americans hold three quarters of all stocks. many americans are more concerned where the next meal is coming from than the 401(k). fast food workers striking against poverty wages. the economy, jobs, minimum wage. that is the president's agenda for the next three years. alex is the business director and chairman of the economic advisers. also with me is a former adviser to presidential candidate mitt romney.
CSPAN
Dec 9, 2013 12:30pm EST
to our economic, to the way our economy functions, that is, with banks having the opportunity, banks and other financial institutions having the opportunities to criticize what the government is suggesting, but, also, to our political system because the public then will not get the kind of feedback about what the government is doing that they can only get from the regulatory, from the regulated industries. so that's, those are the two policy issues that come out of this very, very heavy settlement that the government exacted from jpmorgan chase. thank you. >> thank you, peter. i mentioned earlier that we had intended a fourth statement but we were not able to complete that in time given the weather conditions. we'll send it to you by email but he wants review part of it before that. >> it's a simple statement. we had technical difficultyings with a missing e copy. it is a comment on a letter by four resolution authorities in four different leading countries to isda, international wall dealer association. changing master agreements to facilitate bank resolution. when they realize if a
FOX Business
Dec 7, 2013 3:00am EST
is the story? >> the idea is that it grows when the economy is bad and it contracts when the economy starts to improve. projections are that in the next five years it will go back at the 1996 levels to ensure its economy and the point is to boost wages. neil: one people out of seven people, isn't that bad? >> one person out of seven people is about $23,000 a yer getting for food stamps. >> i'm not sure it's one out of seven. but what i hear what melissa is saying. it's a bad economy. 65% of groceries and food stamps due to that. neil: we also relax the standards? >> yes, starting under george bush. as well as president obama. there were a requirements and tests and the like. but that is a recent development. while people are misleading others about when they say that there is not an explosion of food stamps, there's a higher growth rate. what they are saying is rescue the food stamp program for the truly poor. the. neil: we could go back and forth for who is really poor and who is not poor. but you could go beyond food stamps, now you are close to one out of three americans getting assistan
LINKTV
Dec 9, 2013 2:00pm PST
the economy. and since the days of henry ford, the american auto industry kept its hand on the wheel and its foot on the accelerator. detroisold the big car. and american drivers bought it. high gas mileage didn't mean much to people used to 30 cent gas. 1973 changed that. war in the middle east and an oil embargo were followed by short supplies, gas lines, and skyrocketing prices. higher gas prices de datsunsan. to some, importing japanese cars meant exporting american jobs. so why not just cut imports to save jobs? for drivers, cars are transportation. but in detroit, cars are jobs, good jobs, and lots of them. for auto workers, more imports would mean more layoffs, often permanent layoffs, and a search for new work by men and women who had spent their lives on the assembly line. president douglas fraser of the powerful auto workers union took the workers' case to washington. his members and their employers needed protection from their japanese competitors. protecting auto workers and the auto industry made little sense to believers in free trade, like economist robt crandall of the brooki
PBS
Dec 4, 2013 6:30pm PST
bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day and the nasdaq edged up a fraction and s&p fell two points. the same concerns about the fed's next move sent the yield on the benchmark treasury note above 2.8%, the highest since september. >> how does the federal reserve see the economy right now as it prepares for the next policy meeting next month? steve liesman looks at the beige book survey and what that, along with this friday's november jobs report, could mean for the future of its stimulus program. >> reporter: some strong employment data today raising prospects for better job growth and less stimulus. adp in a much followed monthly report foreca
MSNBC
Dec 5, 2013 9:00am PST
the core of the economy today. that's what we did in the manufacturing sector the beginning of this economy and it really built the american middle class. it's what we need to do now. manufacturing jobs have gone away. it's fast-food jobs, retail jobs, service sector forming the core of the u.s. economy. those are the jobs we need to raise wages for. >> jack brings up an important point, seven out of ten growth occupyings through 2020 are low-wage jobs. this the american job market. the president has supported this, we have a lot of democrats who have come out and supported thchl i think it is much harder, actually, for conservatives to dismiss the minimum wage in the way they dismiss other parts of the social safety net. this is not an entitlement program. there's economic stimulus. i think this puts conservatives in a tough position. >> it does put republicans in a tough position. majority of republicans think this is a good idea. the president talked beauty this yesterday. he's been talking about this for as long as he's been in public life. how is it we get more hone into the hands of w
MSNBC
Dec 7, 2013 4:00am PST
. making sense of the new jobs numbers. has the economy turned the corner when it comes to the economy. >>> we'll hear from president bill clinton. >>> motor city master pieces. the latest on possibly selling artwork opened by detroit. could it pull the city it of bankruptcy, and should it? >>> good morning, everyone. welcome to "weekends with alex wit witt". president obama surging congress to extend benefits for 1.3 million workers. they are set to expire just three days after christmas. >> if congress refuses to act it won't just hurt families already struggling. it will actually harm our economy. unemployment insurance is one of the most effective ways there is to boost our economy. when people have money to spend on basic necessities, that means more customers for our businesses and ultimately more jobs. >> the republicans are focusing on obama care. >> families who work hard and play by the rules deserve some basic choices, fairness and relief. that's why the house has passed legislation to delay the individual mandate for all americans and let you keep the plan you like. these p
Bloomberg
Dec 6, 2013 6:00am EST
. considerable fiscal constraints. we're going to see environment -- it will allow for the underlying economy to look stronger. >> the bloomberg political analyst is with us -- sequestration in 2014 is different for him last year. >> they realize -- both sides realize they made a huge mistake. interesting point to me, we had a stock market high. we have housing rates out. we have more millionaires and billionaires. you have all of this data and then you have 75% of the country saying we are on the wrong track. >> will that look like going forward when you deal with the restructuring of fannie and freddie? will we see tightening standards and will that hurt the economy even more? >> i think that is one of the challenges. there are lasting scars. we will continue to see regulatory changes and adjustments. one of those is in the mortgage market. >> can i get a mortgage in 2014? doesn't change the radically that i cannot the mortgage? >> we could see some listening, but when we look back, it will look fundamentally different than what we had during the bubble. >> let's look at today's jobs report
Bloomberg
Dec 9, 2013 5:00am EST
the disappointment has been most. we have not seen structural reform as of yet. to push the that economy forward to drive up it isment opportunity and absent. the fourth ee quarter number better assuming an upsurge as a result of the taxation going into next year? >> the anticipation of sales ax increasing next spring is bringing some spending forward. you may see some corporate ahead of that. but the disappointment in japan is we are trying to increase at all. the radical opposition to the economics program would say we should be cutting spending taxes, not increasing taxes increased spending. >> you pwroeu up obama. draw the line between what is hang with the u.s. sort of policy moving forward but in of fed and what will happen in japan. the level of linkage. ex-existential. abe economics depends on the economics and a q.e. policies. what has driven the stock market up and yen down is the huge amount of risk takers piling which is atest story abe economics and shorting the yen. sort of pullback in the global asset price to q.e. the ated yen will be shooting up and stock market would fall. wit
CSPAN
Dec 1, 2013 10:25pm EST
across the world and how we compete in global economy, now that number has dropped down it's not 79% anymore. it's around 35% of our jobs in high school a diploma, which means we have a big skill scant. it's in the manufacturing jobs, john. you can't show up with a high get l degree and expect to a job in a manufacturing plant. you have to have some type of to do, to read, to write, basic math, to operate to machinery, the equipment, the things that you have. so as a nation, we're falling behind. industrialized nations, 14th in reading, 17th in science, 25th in math. 34 nations. we're a better nation than that. to compete and remain internationally globally competitive, we have to change and we haven system to address the needs of our employers. it up to you open guys, but before we do that, manziel y, is johnny going to win the heisman again? >> i don't have a clue. i played six-man football. >> you're an aggie, you're yeah, baby, yeah. >> i don't have an idea. he is fun to watch play. here's what i will project. i will make a prediction -- that i'm very confident in and that is th
CSPAN
Dec 5, 2013 11:00pm EST
confidence to our economy, to the business community and to our people if we got a beginning. deal, but unfortunately that does not seem to be, at least at this point in time, in the discussion. i'm hopeful that the budget committee so i'm hopeful that the budget committee conference will revisit or at least come up with a product that has not been discussed which will accomplish the objective of putting this country on a fiscally sustainible path for the long term, >> coming up, treasury secretary jack lew on implementation of the dodd-frank regulations. and president obama at the white house hanukkah reception. later, the democratic steering expiring hearing on unemployment benefits. span, washington journal looks at the mission and role of the national institutes of health. starting live at 7:30 eastern with director francis collins on the medical research priorities. future projects and the impact of sequestration. at 8:00, allergy and infectious diseases director anthony fauci followed by derek green director of the national human genome research institute gave at 9:00, harold
CSPAN
Dec 5, 2013 7:00am EST
, these trends are bad for our economy. one study finds that growth is more fragile and recession is more frequent in countries with greater inequality. .hat makes sense when families have less to spend, businesses have fewer customers. households rack up greater mortgage and credit card debt. topentrated wealth at the will not result in broadly based consumer spending that drives our economy and with less regulation, it may contribute to risky speculative bubbles. rising inequality and declining mobility are bad for families and social cohesion. not just because we tend to trust our institutions us, but studies show we actually tend to test -- trust each other less. host: that was the president yesterday talking about income inequality. toare turning to all of you get your stories. are you able to move up the economic ladder? we have the lines divided by age. start calling us now. you can put your comments on facebook or tweet us as well. a response from house speaker john boehner's spokesman. they promote government reliance rather than economic mobility. what are your thoughts on this?
FOX News
Dec 7, 2013 8:00am PST
-style enhancements for those not rich. >> but the bottom line is that when you have a slow economy like we had in the 70s, the rich very often get richer but the poor get poorer. that didn't happen during the reagan era, did it? >> no, it didn't. look, it's not just the obama administration's fault. it's the bush administration's fault. the cheap dollar policy creates financial bubbles. who can take advantage of financial bubble? the rich. the poor always have to sell out at the bottom. number one. number two, the regulatory creep that occurred under bush and has accelerated under obama has made it very difficult to expand in areas where you typically find high wage blue collar jobs, in transportation, energy extraction and so on. i hope rick will be pleased to hear that i'm not blaming this entirely on president obama. >> well, on the other hand, mike, president obama's solution to all this and they're saying it in europe, the imf is saying it, is to have this global wealth tax, to tax the rich more, to bring the rich down, that will help income disparity. what do you think of that plan? >> a
NBC
Dec 8, 2013 5:30am PST
's making news as we head into a new week. some surprising strength in america's economy. the unemployment rate fell to a five-year low to 7%. data for the previous months were revised higher. all of that sent stocks up early after a five-day losing streak for the dow and the s&p 500. the news sent interest rates on the tenure treasury higher. the second reading of the gross domestic product as well. the gdp growing at a whooping 3.6%. new home sales surged in october. up 25%. that was the sharpest increase in over three decades. analysts expect sharp reviegss downward. auto sales were high as well. rising at the best pace in six month pps gm rose 13%. chrysler 16% and toyota 10%. all of those numbers were better than expected. >>> due to the strong jobs report an the gdp numbers means we picked up enough speed and what does it mean for the fed tapering its buying program. joining us is greg mankiw. he's an economic's professor at harvard. it's great to see you today. >> it's nice to be with you. >> what do you think? we with seeing this long awaited recovery? >> we've gotten good news. th
CSPAN
Dec 5, 2013 6:00am EST
values and commitments. and if we refocus our energies on building an economy that grows for everybody, and gives every child in this country a fair chance at success, then i remain confident that the future still looks brighter than the past, and that the best days for this country we love are still ahead. [applause] thank you, everybody. god bless you. god bless america. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2013] >> house speaker john boehner criticized democrats and president obama yesterday for failing to pass legislation to create jobs and grow the economy. here is what he said on the house floor. the house for one minute. the speaker pro tempore: the gentleman is recognized for one minute. the speaker: mr. speaker, the american people work hard and they've got a right to expect their elected representatives to do the same. house republicans are listening. to date the house has passed nearly 150 bills this congress that the united states senate has failed to act on. many of them would help our economy
FOX Business
Dec 6, 2013 7:00pm EST
and a very favorable way for wall street despite the expectation that a growing economy will lead to the end of the federal reserve easing money policies. first to the economy, the november jobs report showed an unemployment rate of 7%. that is the lowest monthly unemployment rate since the december before president obama took office. the economy beating expectations , creating more than 200,000 jobs last month. with september and october payroll numbers also revised higher. the labor force participation rate ticked up for the first time in nearly five years. after hitting a 35 year low in october. and the total number of people out of work including the unemployed and the under employed dropped by more than a million people last month. those job gains and a broad range of industries, including higher paying sectors like manufacturing and construction, which added 27,000 new jobs alone last month. wall street today indicated investors may now be prepared to bid adios to quantitative easing despite lingering fears that the better reserve will quit its easing money policies in. the doubt -- do
FOX News
Dec 6, 2013 1:00pm PST
can do the trick. it came in the face of an employment report that was uplifting. the economy cranking out 203,000 jobs last month and the jobless rate dropping to to 7%, lower tn anyone could remember in five years. it might not be a fluke because consumers are feeling it, too. back to why this is all so weird. normally investors sell off on good news like this because it would signal the federal reserve starts helping them out and starts tapering the 85 billion bucks a month it's been flowing their way to keep interest rates low. a lot more on weather stocks stay high, but first, to mother nature, anything but hot. because fox is on top of a massive ice storm not letting up. icy cold temperatures ripping across a huge part of the country today. the wind chill in montana, minus 46. not much better throughout the midwest, and this arctic blast is expected to stick around for a while. no matter where you live you're likely to be hit and we're all over it with casey stiegel on the mess that is getting messier. scott in arkansas, where things are not much better. joe, on why we could all
Bloomberg
Dec 4, 2013 7:00pm EST
latest report on the state of the u.s. economy. then the fcc considers a plan to let air travelers use their cell phones in flight. the inter-sector is being called the fastest cop car ever. to our viewers here in the united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and the stories making headlines tonight. yang yang is in washington with today's cover story. she will have the latest on u.s. government rules that could change the way we fly. we will have that story coming up. economic conditions around the nation shows the united states still growing at a moderate to modest pace. is that enough to get the fed to alter its row graham. >> the new beige book does not contain any major revelations on the u.s. economy but it could bolster the view that the economy is gaining traction and could affect policymakers decisions on whether or not to scale back their asset purchases. from the fed's 12 districts, early october to mid november, that includes the 16-day government shutdown. economic activity continued to expand at a modest
Bloomberg
Dec 6, 2013 8:00am EST
they could be influenced. the official forecast is for 185,000 new jobs created by the economy, 180,000 of them private, but the whisper number on the street is stronger -- over 200,000. the number, we had a big surprise -- remember, we had a big surprise last month and everyone expected a disaster. the adp payrolls number came in over 200,000, and that surprised people. factor in revisions, and we could see 50,000 or 60,000 additional jobs added. bettingld have people on the fed starting to buy what buys in bonds.-- cars. rates on homes and the fed surprises by not tapering after the weak job report in september. talked back oner the table. >> doesn't the fed have a target for the unemployment rate? >> yes, and no. ring does notape -- tightening. then implement number does not mean as much because it was distorted by the government shutdown. it will come down, but it will not be a factor for the fed air it said officials have told me -- that. -- said. fed officials have told me it will not be dependent. fourth-quarter gdp is tracking much lower, around 1%. they want evidence we wil
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